Mixed-Use Building in Prime
For Sale
Contact for pricing
Pending
1703 E Carson St, Pittsburgh, PA 15203
Versatile mixed-use building with commercial and residential spaces.
Property Size6,000 SF
Days on Market1163
Property Features for 1703 E Carson St
General Information
Standard status
Pending
Size
6,000 SF
Class
A
Property subtype
Mixed Use, Multifamily
Zoning
Commercial
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Building Details
Year Renovated
2019
Buildings
2
Stories
4
Units
4
Tenancy
Multi
Listing Agency:
RE/MAX Select Realty
Listed By:
Anthony Dasta · License #PA # rs327725
(724) 933-6300
Source:
Crexi
Added: Jun 28, 2023
Changed: Aug 8
Last Checked: Jul 24 at 6:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Select Realty
Investment Insights
Based on property information with market context.
This mixed-use building is located on a bustling street, offering high visibility and foot traffic. The property features a layout that combines commercial space on the ground floor with residential units above, allowing for multiple income streams. The property has an attractive exterior and well-maintained interiors, making it ready for immediate occupancy. The flexible floor plan allows for customization to suit specific business requirements or investment goals. Situated in the heart of Pittsburgh, the property benefits from a vibrant and diverse community, surrounded by a thriving retail and entertainment scene. It is also a hub for transportation access, ensuring connectivity for tenants and customers. The building has a total property size of 6,000 square feet.
Key Highlights
- Prime location on a bustling street with high visibility and foot traffic.
- Mixed‑use building with commercial space and residential units for multiple income streams.
- Strategic layout and flexible floor plan allows for customization.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$66,960
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,339,200
$1.3M
Cap Rate 7%
$956,571
$956.6K
Cap Rate 9%
$744,000
$744.0K
Market Conditions
NOI Build-Up for 6,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$115.2K $19.20/SF
− Vacancy
−$8.1K −$1.34/SF
EGI
$107.1K $17.86/SF
− OpEx
−$40.2K −$6.70/SF
NOI
$67.0K $11.16/SF
Area
Pittsburgh, PA
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,339,200
Cap Rate 7%
$956,571
Cap Rate 9%
$744,000
Alternative Uses
Best Use
Mixed Use
$956.6K
$837.0K – $1.12M
NOI $66,960 @ 7.0% cap · market cap 8.64%
Second Best
Apartment 5plus
$904.0K
$791.0K – $1.05M
NOI $63,281 @ 7.0% cap · market cap 8.17%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,761 @ 7.0% cap · market cap 17.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,138
Businesses Nearby
Explore this area
Business Placement
Demographics for 15203, PA
10,720
Population
6,983
Households
1.5
Avg Household Size
30
Median Age
61%
College-Educated
95%
High-School Grad
1.5 sq mi
ZIP Area
7,147
Density / Sq Mi
$71,299
Median Household Income
$55,738
Median Earnings
$1,458
Median Rent
$251,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile mixed-use building with commercial and residential spaces.
Where is this mixed-use property located?
The property is located at 1703 E Carson St Pittsburgh, PA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Prime location on a bustling street with high visibility and foot traffic.; Mixed‑use building with commercial space and residential units for multiple income streams.; Strategic layout and flexible floor plan allows for customization.
